City Pride pub redevelopment in doubt as Glenkerrin goes into receivership

10.05.11

The UK branch of the company had been set to redevelop the site of the City Pride pub in Westferry Road.As part of the plans, the traditional pub would have been demolished and a 62-storey tower built on the land.But the project has now been thrown into doubt after Irish receivers Grant Thornton were appointed to handle Glenkerrin’s assets last week.

The receivers were appointed by Nama – the Irish National Asset Management Agency – after Glenkerrin failed to repay £650million in loans.A decision will be made on Tuesday on the fate of Glenkerrin UK, in turn spelling out the future of the City Pride site.It is believed Glenkerrin paid £64.9million for City Pride’s site and a linked site at Island Point further down Westferry Road.

It planned to build 430 residential units at the City Pride site and 189 at Island Point.Glenkerrin UK was unable to be contacted today.